IFIC Bank PLC has partnered with the Switzerland-based international organization, Swisscontact, for a proposed project aimed at elevating the international standards of Bangladesh's export-oriented vegetable sector and strengthening safe food export capabilities.
The Memorandum of Understanding (MoU) signing ceremony was held at the IFIC Tower in Dhaka recently, says a press release.
The agreement was signed by Syed Mansur Mustafa, the Managing Director of IFIC Bank, and Helal Hussain, Country Director of Swisscontact Bangladesh.
The ceremony was attended by the Deputy Managing Directors and members of the Senior Management Team of IFIC Bank, as well as the Deputy Country Director and other high-ranking officials from Swisscontact.
As the Lead Financial Partner, IFIC Bank PLC will leverage this project to expand sustainable financing in the Agriculture and SME sectors, cultivate export-oriented entrepreneurs, and develop risk-mitigated loan portfolios. Furthermore, this initiative will play a crucial role in the field-testing and innovation of the bank's Agriculture, SME, and Green Finance products.
The project will be implemented over a 27-month period, spanning from January 2026 to March 2028. Under this project, 1,000 smallholder farmers across various regions of the country will receive training on Good Agricultural Practices (GAP), climate-resilient agriculture, safe pesticide use, residue control, and advanced post-harvest management. Simultaneously, cluster-based production systems will be established to ensure traceability, with a commitment to ensuring at least 30% female participation.
